ArDrive has a very different business model and structure than we are typically used too. As part of the way it functions, a token was created to help facilitate two things: Ownership and Governance, and Profit Sharing.
Ownership and Governance
ArDrive is not owned by one person or a small group of investors, but, instead, is owned by the community through the ARDRIVE token, represented by the symbol ↁ. At this time there are approximately 7 million ↁ, and the holders of those tokens are automatically part of the community who have ownership of ArDrive.
Owning ↁ tokens gives a person the ability to take part in the governance of ArDrive. In other words, token holders take part in votes that influence the direction of ArDrive and how it is run.
Profit Sharing Tokens
ↁ also let token holders take part in the profits of ArDrive. As users upload data to ArDrive the profits that are accrued are distributed randomly amongst token holders.
Before each upload, a ↁ token holder is randomly chosen and then that token holder will receive the profits from that upload. The more tokens you hold the greater chance you will be chosen to receive that profit. Over time the distribution of profits will even out to equal the percentage of tokens held by the individual: if you own 1% of the tokens you will end up getting 1% of the profits distributed.
As well, as ↁ gains value (hopefully), an individual has the opportunity to keep them and enjoy the profit distributions or sell them on an exchange for the going rate.
How do I get ↁ tokens?
There are three ways to get tokens at this time:
- You can earn tokens through ArDrive reward programs that have given tokens to people who have both used the system and have referred others to ArDrive. Please keep on checking back for our referral programs as we are adding new and exciting ways to be part of the community all the time.
- You can earn tokens through the work done for ArDrive. ArDrive has been built by many passionate people with a wide-range of talents – programming, marketing, web design etc. These people have earned ↁ tokens for their efforts. After earning these tokens people are welcome to keep them if they want to be part of the long-term story of ArDrive or they can sell them and get the immediate value for their work.
- You can purchase or sell tokens on an exchange. The exchange that lists ArDrive tokens is the Verto Exchange. Check out the ArDrive trading post!
As we continue to grow we are always looking for people to come onboard and help us get even better. If you think you have something that can be beneficial please chat with us on our Discord channel or check out current opportunities on community.xyz.